Program 11-28-09 Transcription

Please note that this is computer-generated transcript - may not be 100% accurate

So you want to participate in 403(b), which I have, and I so I want to change to a different mutual fund.

I  have a loss in some of my stocks this year and I was thinking about selling them, then selling something that I had a gain.

Saving income in my income tax with my mortgage helping me apply 403(b) for my future.

On the money this morning, deferring that required minimum distribution and what if you took that RMD before the deferral was approved by Congress?  Well we'll get you out of that mess.  Also Dubai, what's up with Dubai?  And have you gone online and looked at your 401(k) lately?  What do you look for?  Are there better choices in your plan?  We'll talk about it.  We have some Thanksgiving financial facts to share with you for a few laughs and a lot more, including your phone calls.  We've got the experts from the certified financial group in the studio with us the 10 certified financial planning practitioners with the certified financial group in Altama Springs.  We have Nancy Hecht and Joe Bert .  How are you guys?

Good morning.

It's so nice to see you both.  Happy belated late Thanksgiving, whatever you say.

Happy holidays is good.  Broad greeting right now.

Did you all have a bunch of people in town visiting?

I do.

You do.  I know you do.

No sir.

No?  When are kids coming, grandkids?

Christmas.

Good for you.  Well it's so nice to have you in.  We're live in the studio, as was Vince which was kind of unusual for the day after Thanksgiving.

Hey we're here doing our stuff.

So like what do we do here?

Well Nancy and I are here this morning to entertain any questions that you, our listeners, might have regarding your personal financials.  We'll be glad to talk about your mutual funds, about stocks, bonds, real estate, annuities, IRAs, 401(k)s, long-term health care, reverse mortgages, all that and more, and we're ready for you, and the good news is if you have any questions on those items you can reach us right now by dialing 407-290-0058.  The toll free number is 1-800-329-5858.  Of course, if you're a little shy about going on the radio, you could always e-mail a question to the group.

You can do that.  You can reach us directly at ask@financialgroup.com.  Just e-mail us your questions and we will get right back to you.

ask@financialgroup.com and coming up we'll give you the telephone number how you can get in touch with the certified financial group and consultation.

But it was so nice to have Thanksgiving.  You were going to give us some financial facts from Thanksgiving.  I'm scratching my head going what does she have up her sleeve.

Well, they're pretty interesting.  Actually, well Lincoln was the first one to declare it a national holiday but Franklin Roosevelt was the one who set the date as the fourth Tuesday in November and then it got moved to Thursday.  His motivation was purely economic.  It was to encourage early holiday shopping.  Now, if you make it past Halloween without holiday decorations up for November and December we're lucky.  We import $5.7M  worth of live turkeys.  Guess where we import most of them from?

South America?

Nope.

Mexico?

Nope.

China?

Canada!  Most of them are from Canada and most of the sweet potatoes come from the Dominican Republic.  America has its roots as a nation of debt.  Is this surprising?  The original colonists arrived in America in debt from the cost of their travels.  They agreed to send goods back to England to repay their burden.  In 1641 the pilgrims consolidated their debts into four annual payments to a London creditor and the interest rate on those obligations was between 30% and 70%.

Sounds about right.

Do you have any idea what our first currently was?

Gold?

Nope.

Silver?

Nope.

Tobacco?

Shells called Wampum.  And Harvard College accepted it as tuition payment in 1640.

What is Wampum?

It's a shell.

A seashell?

A shell, exactly.

Do you remember --

They were recognized as the currency in the United States for over 80 years.  Last but not least, Black Friday is one of the busy shopping days of the year but it's not actually the biggest.  The biggest is the Saturday before Christmas.

I wonder why he picked Tuesday and then it ended up being Thursday.  Why the middle of the week?  Can you -- I'm trying to figure out the logical explanation for why pick that as a holiday, the middle of the week, Tuesday or a Thursday.

I didn't ask him; I'm sorry.

Who did you say it was?

Roosevelt started Thanksgiving.

No no, Lincoln declared it an official holiday but Roosevelt made it picked the day the fourth.

And his purpose was to encourage early shopping for the holidays.

That's probably why early in the week for people shopping because back in many years ago stores were closed on Sundays.  He wouldn't do it on a Saturday, Friday.

So I wonder what time Best Buy opened up back then.

You can always go online.

You could have.  The line that was a string between the two cans they used for their cranberry sauce.

That's very interesting.  A little tidbit of information about Thanksgiving that you probably didn't even know about because I surely didn't know about it.  Interesting, very interesting.  Let me ask you a question here.  Dubai.  Dubai is the place where they have the indoor skiing and they have the islands and the two tallest structures in the world and I'm just thinking they had tons of money and now what's this talk about going into Dubai.

Well they do have tons of money.  The problem is they borrowed a lot of it and their income isn't enough to meet their debt obligations, $64B.

So why should we care?

They're actually not a oil rich country, which I think is surprising to a lot of people.

So what do they  have there other than .

They have oil, but it's not like other parts of --

Indoor skiing.

I mean they built that whole thing on $140 barrel oil which isn't there anymore and the world economy is depressed and people aren't traveling or spending money and real estate we talked about a real estate bubble, it was there.

So now is the right time to buy in Dubai.

Yeah, sure.

Well what I find interesting is this is not if you have been paying attention to the news, they've been alluding to this for a couple of months now, and I  wonder about the timing in relation to our week that we're in right now knowing that the Americans were not working a full financially.

So who's going to bail out Dubai?

United .

Okay, that makes sense.

So much for the news of the week.  Interesting though.  I was just like how is this going to affect us?

There's $64B potential default is miniscule compared to the $3T that's already been written off written down but it is big news simply because of the variety or the visibility that Dubai has.  Interesting though our markets were closed on Thursday and this group of the European markets markets took a hit but yesterday the European markets closed up after the dust settles so to speak, so I think it's just a .

We have an open phone line for you.  It's wide open today if you'd like to get through and get some advice from certified financial group  we have two of the 10 certified financial planning practitioners with us, Nancy Hecht, Joe Bert.  Nancy, by the way, is the author of A Man is not a Plan and I understand you brought an excerpt today.

I did.

Okay, we'll get to that when we come back.  Joe, once again, what are you and Nancy taking phone calls about?

Well Nancy and I are here to talk about anything you might have on you remind regarding your personal financials.  We'll be glad to talk about your 401(k), about IRAs, stocks, bonds, real estate, mutual funds, long-term healthcare, annuities, life insurance, reverse mortgages.  All that and more.  We are here and if you have any questions on those items, the good news is the lines are wide open so you can be right at the head of the line by calling 407-290-0058.  You want to be listening right after the break because I'm going to back with a personal reward of $500.  $500 reward is coming up if you can help recover something that was lost.  Okay.  Stick around because I'll tell you about it.

Is it worth $500?

Sentimental value.

Okay, $100.  I'm going to personally offer a reward when we come back from the break.

Have to be at least $100 worth of leather.

At least.

That's coming up next here on W -- ask the Expert Saturday morning on WDBO and coming up in nine minutes at the bottom of the hour, Bob Johnson in the WDBO newsroom with today's top local and national stories and a look at the traffic and weather forecast for the rest of the holiday weekend, and more.  Bob Johnson.  Of course, not to be confused with Roger Johnson --

Or Santa Claus.

Roger Johnson is back in the office today, and coming up we'll tell you how you can get hold of him.  But he's got a big time countdown to retirement

He does.  Next Saturday morning, 11:00, office in Altamont Springs .  He'll be hosting his countdown to retirement.  It's where if you're at or near retirement age and want to get all the details regarding Social Security, should you take it now, should you wait until full retirement, what to do with your 401(k), all that information, Medicare, Medicaid, all that stuff you need to know as you approach those golden years, so to speak.  Roger will be providing it.  It is free.  Leave your checkbook at home.  He's not going to try to sell you anything.  The reason we do this, frankly, folks is for you to get to know us and we get to know you and whether you need to make planning now or sometime in the future, perhaps it would give us an opportunity to earn your business.  But it's an hour, hour and a half well spent.  He's to provide a light lunch.  It's 11:00 at our office in Altamont Spring.  If you want to make a reservation, all you need to do is call 407-869-9800.  That's 407-869-9800.  And if he's not there yet, just leave a message on the recorder and he will get back here.  Just say you'd like to come and he'll say .

Alright.  So we get to the calls here.  We do have to make mention that the Certified Financial Group has a public service announcement, a public service warning, if you will, for you this holiday season.  And that is: when you go to the malls or you go to the grocery stores and stuff, don't leave your personal belongs in sight, like on your back seat or anything like that.  And make sure you lock your car door because if you don't, stuff happens.  Right, Joe?

Stuff happens.

Like --

Especially up in Lake Mary.

In the Albertson's parking lot?

parking lot.

You know the guys listening to you now.

listening.

Yeah.  Return the briefcase.  No questions asked.

Fortunately, there was nothing in there of a personal nature.  It's a briefcase I had brought into the studio for nye on 20 years.

My goodness.  It's --

It's my headphones, my glasses, with my calculator and all my notes.

Yeah.  That's just twash , as they say.

If we get that briefcase back, I will give you $100.  No questions asked.

No questions asked?

No questions asked.



And you heard that that reward is from Kirk .

Yes.  Obviously.

Yes.  It will be my Christmas present to you this year, Joe.

Thanks.

The moral of this story is lock your doors.

Lock your doors this holiday season.

put your stuff on the floor in the back seat see it.

John in Sanford , you're on WBDO.  Hi, John.

Hey, good morning, guys.  How you doing?



Hey, I'm curious.  You know, with all the debt that we've incurred as a nation and the fact that there's a lot of uncertainty about the dollar, have they -- do you think the government will ever consider going back to the gold standard?

Short answer, no.

Why is that?

What is the gold standard?

Well, it's when the dollar was worth a dollar.  I think gold was at $39 an ounce back then, and you couldn't print anymore dollars than you had gold in Ft. Knox.  We went off the gold standard to be able to raise the debt ceiling and the rest is history, and we ain't going back there.

Okay.

In my estimation --

Sure.

Could be totally wrong, John, but it's one may's view.

Short and sweet.  I don't want to start a bad rumor, but I understand there's really no gold left at Ft. Knox.  It's all in Beijing now.

Interesting thing about gold: there's more gold out there than there is -- there's more gold produced every year than there is oil and you read about what the value of gold, really we're chasing it right now, is the dollar and the reason gold is going up is because the dollar is weak.  That's basically what's going on at the moment.  I don't expect that to continue forever, but there are a lot of gold bugs that think it will.

Tom in Winter Springs.  Nancy, did you want to say something?

I was going say that's why we have both the explosion in sell your gold and the gold party and little kiosks at the mall.

You would always go weigh that gold before you sent it in.

Oh, most definitely.  If you're going to go that route to try and make some cash, you need to know what you have before you hand it over to somebody.

Yeah.

Interesting.  Yesterday the DOW was down, gold was down more.  The Dow being down yesterday because of Dubai made the big news.

Right.

So to speak.  But gold was down more.

Joe Bert   and Nancy Hecht  are in the studio.  Nancy, of course, is the author of A Man is Not a Plan, and we've got some advice coming up for women shortly.  This is basically aimed at women; right?

Yes.

Okay.  In other words, don't rely on your guy.

Correct.  Can't live without them; however  --

Now wait a minute.

However --

Can't live without them, can't live with them.

That's the way it is.

Isn't that how --

Things go round.

Yeah.  Tom in Winter Springs, you're on WDBO.

Good morning, guys.



Hey, my question is this: It's about whether or not I should roll my IRA into a Roth IRA to beat  some upcoming tax increase.

Possibly, Tom.  What's your tax bracket?

I have no idea.  I'm an amateur.

Okay.

Well, what's your gross income?

Not very much.

Well, if you're in a 10% tax bracket, maybe even a 15% tax bracket, depending on the size of your IRA, I might consider it.

It's roughly around 60,000.

Is your -- is that your taxable income or is that before your deductions?

No, that's my IRA.

Oh, that's your IRA.  Okay.  Now remember, when you do that, that's now $60,000 of income that you have to add to whatever your W-2 or 1099 income is.

I realize that, but won't I get a lot better tax rate now than I will, say, in another year?

Well, another year definitely not.  Because the tax laws that we're under right now are going to expire at the end of 2010.

Okay.

And individual tax brackets as well as capital gains tax and estate taxes are going to change.  What you're really hoping for, Tom, is that the rules associated with Roth IRAs do not change.

Okay.

And then when you pass five years of having your account in a Roth, you can take those withdrawals out on a tax-free basis.  And I think that's a pretty big hope, that the rules with the Roth will not change.

If you have any chance of trying to make the math work for a Roth conversion, the one thing you have to keep in mind is that you pay the taxes that are due on the Roth conversion out of other money.  In other words, if you're going to pay 15% taxes on your $60,000, that's $9,000, in order to make the math work to even come out ahead, you have to roll over the entire %60,000, not 60 minus what the taxes are due, to make it work.

Right.

So that's another thing to consider and a lot of folks don't think about that.  They're well, I'll just roll it over, pay the taxes and I'll invest what's left.

Yeah, but you're going to pay the tax eventually anyway.

Well.  But what you're done is you've just taken a haircut right off the top.  So you add $60,000 to your income and we don't know what your income here is, but if you're going to give up 25% of it, how long does it take to make up a 25% growth on your Roth?

I don't believe I'll be able to make any of it up.

You don't believe you --

Okay?  It's basically frozen.

Oh.  Well, in that case why even give it up?  Why take a 25% haircut or whatever the haircut might be in paying the taxes?

Take a 10% haircut now versus a 25% haircut later; isn't that an advantage?

Yes, it is if, as Nancy said, the rules don't change.  Can you guarantee that the Roth will always be tax free?

Hmmm.  No.

Look at IRA contributions and Social Security as an example.

Alright.  We need to take a break for the new with Tom Johnson, find out the latest.  What happened with Tiger Woods.  Please don't -- leave the poor guy along.

Leave him alone.

Poor Tiger.  You know?  Everybody argues with their wife or husband, as the case may be.  But maybe she whacked him with the golf club.  What do you think, Joe?

What happened -- leave him alone.

I don't know.  I'm just curious.  Can't wait to find out from Bob the very latest.  Then we're going to come back and take more of your phone calls at 407-2900058 .  Stan in Orlando, you'll be up next right after the new here on WDBO.

Information presented on this program is believed to be factual and up to date, but we do not guarantee its accuracy and it should not be regarded as a complete analysis of the subjects discussed.  Discussions and answers to questions do not involve the rendering of personalized investment advice but is limited to the dissemination of general information.  A professional advisor should be consulted before implementing any of the options presented.  Certified Advisory Corp is registered as an investment advisor with the SEC and only transacts business in states where it is properly registered or is excluded or exempted from registration requirements.

Okay-dokey.

Coming up after the WDBO morning news is Florida Homes and Gardens with general contractors Rick Eden and Jim Highdish .  Today, some plumbing issues to take care of, some heating questions to answer.  We'll take your calls about fix-up, repair, remodeling, anything around your house from the experts.  That's coming up next, right after On The Money.  On The Money, of course, brought to you every week by the After 55 Housing and Resource Guide.  It's the housing services guide for central Florida.  You can pick up a free issue today at your local Publix, your doctor's office, maybe your senior center.  If you can't find it, go online and find After 55 Housing and Resource Guide at www.senioroutlook.com.  Once you get a hold of the magazine, open it up to page 45 and you can see a picture of all of you fellows.

Worth a trip.

Calling us fellows.  Thank you.

I'm sorry.

One of the guys.  More generic.  Guys.

I'll see if I can make my voice lower, but --
 I didn't mean it in a sexist way.  It's like I say, oh you guys, what's up guys.

And that's , hi guys.  I don't take offense.

Nancy Hecht a certified financial planning practitioner, and she came in today to take your phone calls, folks.  And here is the phone number if you want to seek some advice from Nancy or Joe.  407-290-0058.  Stay in, hang on, we'll be right with you.  And Bill, we'll be with you as well.  We do have a couple of open lines left.  But I alluded to the fact earlier that Nancy is the author of A Man Is Not a Plan.  Basically, Nancy, give us the thumbnail.  What is A Man Is Not a Plan all about?

Well it's just about taking responsibility for yourself as women and teaching our daughters how to take responsibility for themselves and look at whatever guy that is in your life as a partner and not as the sole support/daddy figure I guess is the best way to say it.  There is a lot due to death or divorce, a lot of women that are out there by themselves, and you really have to be responsible for yourself.

So what's today's installment ?

Well actually, ladies, there is a mutual fund just for us.

You're kidding.

It's actually been around since 1993, but I just discovered it.  It's the Pax World Women's Equity Fund, and what Pax is doing is investing in companies that promote gender equality by advancing women to top executive positions.  They have female representation on the board of directors and senior management, promote positive images for women in their advertising, promotion and marketing.  It avoids investing in companies involved in the exploitation and trafficking of women.  And what it is is a good, solid large growth fund.  And let me give you an idea of some of the companies that are in here - Tiva, Google, Johnson & Johnson, Conoco-Phillips, Sax, Jamestock , JPMorgan, Emerson Electric, Leap Wireless, EMC, companies like this that we're all very familiar with and spending money with, and it just may be worth looking into.  I'm not endorsing this fund; I'm not saying it's a good fund or bad fund.  It is just a very interesting fund, and the premise of it is female-based.

Sign me up!

Is that right?  Is there a place where we could go find out more information?

Well if you go to morningstar.com, if you go to Smart Money, go to any of the financial Web sites.  I would be happy to give the ticker symbol if anybody wants to looks it up.  Again, I'm not endorsing it; I just find it quite interesting.  There are a lot of socially responsible funds, and this is women-centered.  But the ticker is PXWEX.  Look it up.

Pax is spelled Pax.

Correct.

I have heard of very similar mutual funds.  Like there is a mutual fund for like Christians, who are socially responsible .  And if you go to -- what did you say, Morningstar?

Morningstar is the most unbiased reporting goes.

We know all about it.  Okay, let's go to South Park and talk to -- I mean Stan in Orlando.  Hiya, Stan.  You're on WDBO.

Hey, good morning guys.  .  My question involves -- I've been an investor like a lot of people for retirement.  I'm getting close to retirement.  I've been investing in various avenues, quite a bit in equities, taking a hit at times, re-making back some money in times.  I'm think about going into -- putting more of 60% to 75% into bonds, and in particular tax-free exempt municipal bonds.  Some of them pay 4.5%, 5.5% right now.  That seems pretty good because tax-free, within my tax bracket, that would be approximately the same as 7.5% to 8.5% equivalent before taxes.  Now I can actually live on that with the amount of money that I can put into taxes.  There has to be a downfall or something that I'm not understanding because that almost seems too good to be true.

No, your calculation is right, but there are some hidden things here that you need to consider.  First of all, how old are you, Stan?

58.

Okay.  Well that's issue number one.

But I'm in construction, so I'm kind of forced into retirement.


I understand, I understand.  Um, 58, statistically you've got at least 30 years you have to worry about, okay?  You have to remember that that yield that you're getting, if you are consuming all that income, you have absolutely no growth.  And unless you have a huge amount of capital, chances are your income will not cover your lifestyle 15 years from now, 15 to 20 years.  So when you're in your 70s, you are going to look back and say I just can't afford to do what I did because gasoline will be at $9 a gallon, milk will be at $6 a gallon, and to take a plane ride to Los Angeles will cost you $900.  So that is what you have to consider if you -- purely for income, immediately, that is okay.  But it is going to give you no growth.  That is why you need a balanced portfolio that will give you the income that you need today, but you have to look for growth for the future.  Your calculation is right about tax-free.  The yield is correct.  My concern is from a long-term perspective, and that's a problem that Nancy and I, she regularly do what I call back at the envelope financial planning.  In other words you look at what you need today.  You don't factor inflation, you don't factor in taxes - in your case you did with the tax-free, but you have other taxes you have to consider - that you haven't looked at the impact of not getting any growth in your portfolio.

Yeah but with all due respect, there are so many people, including myself, who may have lost 30% to 50% of their IRAs or their investments or their retirement, maybe have come back 20% or 25% of this.  They are still down 30%.  That throws off the average for investing in equities over the past -- since 1926 from 14% down to 10%, and maybe even less.  Who -- I as many other people cannot take the risk that we may have another 20% down over the next 10 years of a weighted average.

Stan, you have ---

Then I'm really going backwards.

You had asked what the downside was.  I have a question for you.  You would not be using IRA money to invest in the municipal bonds, would you?

No, not at all.

Okay.  Okay.  And are you looking at individual bonds or are you looking at the fund?

Individual bonds.

Okay.  So here are a couple of things that you have to be concerned about.  First of all with the bond you have to hold it to maturity to be able to realize the full value of your principal, and most of those are 25 to 30 years in length.  If you are looking at a municipal as an individual bond right now, I would most definitely look at an insured on because we are finding different cities and states and municipalities running into a problem that we never would have dreamed of that happening in the past.  With the fund you have a little bit of diversification, and the purchasing power side is the upside/downside.  If interest rates increase, then true the check that you will receive from something that is a newer issue, if you were in a fund, then the dividend can increase.  If you're holding it in individual bond and it is paying you 4% and interest rates increase and how that individual bond can pay 6%, you're bond is going to be worth less.  So God forbid you need to sell it because you need some extra capital.  You are going to get less than you invested.

Stan, you can also lose 15% or 20% on those bonds if interest rates go up.

When you say interest rates, you mean like interest rates on prime rates?

Yeah, when the Fed starts raising interest rates, if you go back to inflation, the value of your bonds are going to go in the tank.  Now the income will be there, but just like the stocks you are talking about, they are going to do down.  And as Nancy said, unless you hold that bond to maturity, you will never get back your principal.  So that is part of the downside.

Something you might want to add to your mix, Stan, if you are really looking at 60% bonds is look at some inflation-protected treasury bonds as well as municipal.  They'll pay a little bit less, but they will help protect your principal to an extent in an inflationary time.

Yeah, but they're only paying I think 1%, 1.5%.

Well, if you look at the funds -- if you look at the inflation-protected bond fund, it will pay more than that.

All right.  9:46, it's 14 minutes to 10:00 here on WDBO.  Let's take a call from Bill in Lake Mary.  Hi Bill.  You are on WDBO -- hey Bill, by the way, you seen a brown leather briefcase anywhere near Lake Mary?

Huh?

Nevermind.

Oh, okay.  Yeah.  I just wanted to clarify that George Washington proclaimed Thanksgiving as an holiday, actually he called it a day of thanks because after a very severe winter, and his campaign was improving finally, he felt that we needed a day of thanks to the Almighty.  Then Lincoln made it a national holiday Thursday not because of a shopping spree because under the depression there was no money to shop.  But he just wanted to make sure the day was and it would be observed from . Also we were in the middle of World War II and there was a lot to be thankful for.

But we don't know why it was

It was actually

But it was not

Well thank you for that information.

Thank you, thank you.

We really appreciate it.

Still want to know why it was Thursday.

It was Tuesday.

Well it started with Tuesday and then they moved it to the Thursday, so it's

So you could have a long weekend because they knew if they did it on Thursday that people weren't going to work on Friday.

The stores are open, the markets are open, it can't be.

It was -- George Washington got all upset because the Best Buy was closed --

You know what, I'll tell you why it may be why it was on Thursday. Now that I think about it, because years ago on Friday, Catholics didn't eat meat. Think about that.

Okay, and

Yeah but --

Well, you have a large Catholic population so you weren't going to have turkey on Friday.  So that's why you didn't have it on Friday, you had it on Thursday. --

But Catholics didn't -- oh

That's right.

What do you think there

I don't remember

But it was originally done on Tuesday

I understand that. So you could have . Then they moved it to Thursday, so it winds up from Thursday to Friday

But I don't know what the religious make up in the country in 16-whatever.

No no, we're talking about --

Thursday

Yeah. I'm telling you, I was wondering Fridays

Yeah, it could have been.

Okay.

Here we go.

And the debate continues.

But you know we give thanks.

We give thanks.

And this weekend, I give thanks for particularly upcoming to know the certified financial group and my certified financial planner Joe Bert who has helped me through the years and -- when did I first meet you. Nion 20 years ago?

Nion. You been here 20 years?

Yes.

You 20 years?

Yes, 20 years. Actually 21 years. But back then when I was a young whipper snapper, I didn't have any plan at all. I was in my 30s and I didn't have anything going on, and Joe, we got going on the 401(k)

down by the river

And now I can live in an RV down by the river

There you go.

With the expandable sides.

Yes, yes. Won't be just a van.

Alright, we're going to take your phone calls coming up here. 407-290-0058. When we come back from the break, deferring that required minimum distribution and what if you took that RMD before the deferral was approved by Congress, hmm? Well, Nancy is going to help you out with that one, and that's coming up next here. The telephone number, 407-290-0058. We're planning tomorrow today.

That's true. Hey listen, if you can't get through today and you'd like some good sound advice from the certified financial planning practitioner Joe, what should folks do?

Well, the good news is we have on the line right now Roger

Roger, are you there?

Roger Johnson ?

Roger?

Hey guys.

well good morning Roger



and I had to start doing my pilot talk , so --

no we're running short on time

What's going on.

Absolutely.

back up here.

So you were there for what purpose?

I'm going to take some calls off the air today. The number here is  407-869-9800, if you'd like to set up a portfolio review, we can do that too, and/or we can do an appointment for a countdown to retirement which is going to be a workshop next weekend, next Saturday, December 5. It's going to be right here in our office for anybody within three years of retirement. So if you do get the recording when you call, the number is 407-869-9800. If you get the recording, please leave a message and your name and a phone number and I'll call you back this morning. So again, 1-800-EXECUTE is our 800 number and again, the phone number is 407-869-9800.

Thank you.

And that countdown to retirement is 11:00 at our office in Greens next week. It is free. going to give you some great information. So if you're at a new retirement age, this is something that you don't want to miss. Once again, 407-869-9800 or 1-800-EXECUTE.

Alright, we're fastly running out of time here, but as promised if we don't get to your call, hang on there. We'll take care of you after the show. But we're going to be talking about the required minimum distribution and deferring that RMD and what if you took that RMD Nancy before the deferral was approved by Congress?

Well, they have now said that you can replace the required minimum distribution but as with anything, there are exceptions, and here's the first one. The clock runs out on the 30th of November.

That's Monday.

Right, right. Wait, there's an or. Blah, blah blah, I'll find the or. Anyways, but the bad thing is if you're taking a systematic withdrawal from your IRA which many people do and you were to start doing that and then they said you can defer it, blah, blah, blah, you can only replace one withdrawal.

Oh.

So if you're taking monthly withdrawals, you can only replace one



Well, okay. 2010 elections, that's all I can say.

Alright.

So you have to be careful of that. And then the time limit. Let me find it really quick.

Jeff, you want to take out -- if you've taken out every month you've taken something out of your IRA. So you know this year I didn't have to do it and you want to put it back.

You can only put back one month's worth of withdrawals. Now, some people took the whole lump sum out.

you can't make this stuff up.

and you can return it and the whole lump sum, but there you go.

Bottom line, if you want more information, you've got to call Nancy.

Right, something that would be better is if you had that, you can make a direct contribution to a charity. This is the last year that you can do it. Do that with that withdrawal .

Okay, like I said, if you're on hold, hang on, we'll take care of you off the air and don't forget folks if you'd like to get some good sound advice at least for the next hour or so, Roger Johnson is going to be back in the office with the certified financial group and you can call him and while you're doing that sign up for the countdown to retirement workshop that's coming up next Saturday morning. The phone number for the certified financial group one more time, 407-869-9800. Give them a call.

Dictation made on 12/8/2009 11:29 AM EST.